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The Rock Concert: 

The Rock Concert The Mad Mathematicians 2nd Period

Task 1Keep It Simple!: 

Task 1 Keep It Simple! Sam is producing a concert and has three bands and two stadiums to choose from. The bands are: -Who’s That? (aging rock band) -Ms. Teak (female rapper) -Dixie Chickens (country/folk) The stadiums are: -Cotton Bowl - 25,704 people max -Starplex Amphitheater - 20,111 people max The question is which band and stadium should Sam choose to make the most profit and how much to charge for tickets.

Task 2Model For Cost: 

Task 2 Model For Cost There are two types of costs- fixed and variable. The fixed costs stay the same no matter what. The variable costs depend on the number of people that come. The fixed cost is the cost of the band, stadium and other costs combined. The variable cost has a unit rate of $4.50 a person. It includes the costs of the security guards, parking attendants, and food servers. Variable cost = (unit rate)( number of tickets sold) C=Variable costs + Fixed costs, or C=V+F

Tables and Equations: 

Tables and Equations Total Costs C= 4.5n+F

Task 3The Bottom Line: 

Task 3 The Bottom Line Profit = Revenue – Total Cost There will be something called break-even point, where Sam will not earn or lose money. It is expressed by the intersection of the lines of revenue and cost. The line for revenue is 20x. The for cost is 4.5x + 190,000, considering we are at the Starplex Amphitheatre with Ms. Teak. The break-even point for Ms. Teak at Starplex Amphitheatre would be if 11,843 people attend.

Tables and Equations: 

Tables and Equations Profit Model Profit=20n- 4.5n+190000

Task 4Get Greedy and Go Broke: 

Task 4 Get Greedy and Go Broke Sam can now make a profit model to see how much you can sell tickets for in order to get maximum revenue. Unfortunately, Sam can’t just price a ticket at $1,000 just for one concert. So, Sam took a model of Dixie Chickens at the Cotton Bowl for the equation: n= -250p+27740. Sam can now use this equation to figure out about how many people will come at certain ticket prices. This is called sales demand, the relationship between ticket prices and ticket sales.

Tables and Equation: 

Tables and Equation Sales Demand Model n = -250p + 27740

Task 5Finding the Demand Equation: 

Task 5 Finding the Demand Equation Sam must now create a sales demand equation to show who to hire, where they should perform, and what the ticket price should be. Starplex Cotton Bowl

Final Report To Sam: 

Final Report To Sam We reviewed the graphs and tables and we have decided that in order to get maximum profit Sam should hire Who’s That and have them play at The Cotton Bowl and sell the tickets for $80.